Faculty & Research Archive

Research from NYU Stern Professor John J. Horton and PhD candidate Apostolos Filippas delves into the negative externalities of apartment-sharing: short-term rentals can impose costs on neighboring tenants including noise, disregarding building rules, common resource congestion, and uncertainty.

Since 1999, the Securities & Exchange Commission has required corporate boards to maintain no fewer than three members on their audit committees, and no audit committee member must bear any relationship to the company “that may interfere with the exercise of their independence from management and the company.

For a habitual subway user in Manhattan since 1970, the drumbeat of criticism can get a bit much. Words like crumbling, obsolete, filthy, rat-infested and unreliable roll as easily off the tongues of hassled straphangers as the above-ground chattering classes in their limos and Ubers.

A few years ago, I wrote a book called The Next Convergence, about how developing economies were “catching up” to their advanced counterparts in terms of income, wealth, health, and other measures of wellbeing. I looked not just at how these countries had achieved rapid growth – including the central role played by an open global economy – but also at the opportunities and challenges this process of convergence would bring.

When most people think of investment, what comes to mind is the purchase of new equipment and structures. A restaurant might start with construction, and then fill its new building with tables, chairs, stoves, and the like. This is the world of tangible capital.

Growing at a seemingly exponential pace, the #MeToo movement has flooded social media feeds and news headlines around the world, leading to increased conversation and action to help ensure a safer workforce.

According to his mother, Elon Musk, the man behind SpaceX and Tesla Motors, was the smallest child in his class, a "supernerd" who was often bullied. His compulsion to correct people with his encyclopedic knowledge caused most of his peers to reject him, making him feel isolated.

I've benefited enormously from big tech. Prophet, the consulting firm I cofounded in 1992, helped companies navigate a new landscape being reshaped by Google. Red Envelope, the upscale e-commerce company I cofounded in 1997, never would have made it out of the crib if Amazon hadn’t ignited the market’s interest in e-commerce. More recently, L2, which I founded in 2010, was born from the mobile and social waves as companies needed a way to benchmark their performance on new platforms.

President Trump won the White House in 2016 by breaking through a formidable blue wall in the U.S. Electoral College. He is going to have to repeat that same feat if his administration hopes to make any progress addressing the country’s pressing infrastructure needs.

One of the less headline-grabbing effects of the 2008 financial crisis was the decline in sales and rise in fees of variable annuities, which are mutual funds with long-dated minimum return guarantees. New research from NYU Stern Professor Ralph S.J. Koijen studies the evolution of the variable annuities market and highlights the importance of financial and regulatory frictions in the pricing and design of variable annuities following the financial crisis.

Yesterday the Dow Jones Industrial Average plunged 1,100 points and the S&P 500 fell by 4%, bringing the market drop of the last six trading days to just under 8%. The declines have been echoed in Europe, Asia and many emerging markets.

As the director of a PhD program in data science, I give all my students the same advice regardless of what they major in. – Data science and computing skills are the “new math.” If you don’t have a good analytical grounding in these areas, then you will be at a severe disadvantage.

We live in a world where productivity, a key pillar of long-term economic growth, has crumbled. In the United States, Europe, and other advanced economies, productivity growth has slowed so drastically in the past decade that economists debate whether we have entered a new era of stagnation—and this at a time when we need productivity growth more than ever to sustain growth, as working populations in countries from Germany to Japan age and shrink.